What did the glass-stegall act (the banking act) do?

History

1 answer:

alexgriva [62]3 years ago

3 0

Answer:

The US Banking Act of 1933, is the law that seperated investment and retail banking

Explanation:

The act refers to 4 provisions set in place to manage investment and retail banking those 4 are:

dealing in non-governmental securities for customers,
investing in non-investment grade securities for themselves,
underwriting or distributing non-governmental securities,
affiliating (or sharing employees) with companies involved in such activities

It was repealed in by President Clinton with the Financial Services Modernization Act of 1999

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